There are two primary reasons behind the governments around the world being rather coy about establishing legally binding regulations for distributed ledger technology and the resulting debate as to the legitimacy of such regulations:

The world of cryptocurrencies and blockchain continues to expand from its humble beginnings to becoming buzzwords by the conclusion of 2017, to now, when more people and businesses understand the new technology, as well as, its range of applications.

Sweden has been a grey market in the modern age of online gambling, and yet the nation has spawned some of the biggest names in the industry. As of 1 January 2019, however, Sweden will become a fully regulated market following the aptly named bill ‘A Re-Regulated Gambling Market' being approved by national legislature Riksdag.

On May 14, 2018, the Supreme Court of the United States overturned the Professional and Amateur Sports Protection Act (PASPA). This action was taken after the state of New Jersey sued PASPA in the case of Murphy v. National Collegiate Athletic Association, claiming that the law infringed the Tenth Amendment of the United States Constitution.

With less than a year until the United Kingdom leaves the
European Union, Gavin West, Director at tax consultancy Ampla
Consulting, considers what this could mean for the online gambling
industry from a VAT and gaming tax perspective.